HLTHAGE 1BB3 Lecture Notes - Lecture 7: Old Age Security, Canada Pension Plan, Pension

• School: McMaster University
• Department: Health, Aging and Society
• Course: HLTHAGE 1BB3
• Professor: Jessica Gish

Document Summary

Reirement income scheme & work in late life. Urbanizaion, assembly line producion, concerns with eiciency, de-skilling of the workforce, mandatory reirement, and high job turnover. First government atempt to insitute a pension system. Personal savings investment plan that was administered by the government. Plan was designed for younger workers to encourage reirement savings. It did not help out those who were already old and in need of inancial assistance. It was not popular among young workers with low wages because they did not have any addiional income to set aside for the future. For those aged 70+ and briish ciizens with 20 years of residence in canada. Provided only a very basic standard of living. Designed to encourage families to care for older people. Restricted eligibility criteria excluded immigrants, aboriginals, and divorced persons. Great depression rise of keynesian economics. Together, signal movement towards the creaion of a welfare state in canada.